eBay Inc.

eBay delivered a solid set of results in the last quarter despite ongoing macro uncertainty and managed an all-around beat. Notable turnarounds were observed in GMV growth since the company improved product experiences and launched authentication. In the previous quarter, eBay acquired myFitment and in this quarter, it started making the technology of myFitment accessible to all buyers beginning with the pilot group of P&A sellers. The company’s significant investments in fitment over the last few years allowed it to launch a prominent Fit Your Vehicle badge this quarter. During the quarter, eBay scaled up several live events with select sellers. Also, it introduced the eBay hub, where people can sign up for channels and find out about upcoming events. The acquisition of TCGplayer has enhanced its collectibles category greatly. Also, in the quarter, in the U.S. and select international markets, eBay deployed a new machine learning model for the estimated delivery date, enabling more accurate delivery predictions to buyers. The company improved its merchandising algorithms to display a greater diversity of products, enhancing buyer satisfaction. The company also announced the launch of Quick Setup, the one-click campaign creation solution for sellers. In the U.S., split payments were introduced, enabling buyers to spread bigger purchases across two credit cards. It also partnered with Zip to introduce a suite of buy now pay later options to the company’s Australian buyers. We give eBay Inc. a ‘Hold’ rating with a revised target price.